Latest Declines in Bitcoin, ETH and Altcoins Liquidated 109 Thousand Investors!

Investors who open longs with every decline are liquidated by market makers.

Sharp declines continue to occur in the cryptocurrency industry, especially on the first day of the week. While the leading cryptocurrency Bitcoin (BTC) saw $ 68,074 with its recent declines, the leading altcoin Ethereum (ETH) saw $ 3,430.

Market makers took action due to the high long-term funding rates in the crypto market. Crypto assets continue to fall, liquidating investors who open leveraged long positions.

According to CoinGlass, a total of 109 thousand crypto investors were liquidated in the last 24 hours due to the declines. The largest single liquidation took place on the OKX exchange with $7 million on ETH.

As of today, a total position of $310 million has been liquidated. While 242 million dollars of these positions are longs, 67 million dollars are shorts.

If there is no decrease in the number of investors who see low prices as an opportunity and open high leverage long positions in the coming hours, much sharper withdrawals may occur in crypto asset prices.

Stay tuned for updates.